RIYADH: Russia’s Finance Ministry has revealed that foreign banks have refused to process $649.2 million worth of coupon payments on its Eurobonds, according to Bloomberg.
The ministry had sent dollar payments for bonds maturing this month, as well as April of 2042.
Upon their rejection by foreign banks, Russia had no option but to opt for local financial institutions. The ministry has transferred the full payment in rubles to the National Settlement Depository.
By doing that, the ministry has stressed that it “considers it fulfilled its obligations in full,” Bloomberg reported